Lebanon, Israel Close To Fighting Over Mediterranean Gas

It was only two or three years ago that leading energy experts cast doubt on the commercial viability of investing in the exploration and extraction of deep-water natural gas. Since then, and most recently thanks to Russia’s brutal assault on Ukraine, gas prices have more than quadrupled and, as the EU weans itself off Russian energy supplies, alternative sources of natural gas are in great demand. One region that might benefit most from these developments is the Eastern Mediterranean, although its political and security volatility are turning this modern-day gold rush into a source of dispute. Lately we have seen…